Modi Naturals Limited · NSE:MODINATUR
Modi Naturals — Q4 FY24 Earnings Presentation
46 slides from Modi Naturals's earnings presentation, May 31, 2024
Slide 1: Cover letter to BSE
31st May 2024 Corporate Relationship Department Scrip Code: 519003 BSE Limited P. J. Towers, Dalal Street, Fort, Mumbai - 400 001 Dear Sir / Madam, Sub: Investor Presentation – May 2024 We are forwarding you a copy of Investor Presentation – May 2024 of the Company. This is for your kind information
Slide 2: Investor Presentation May 2024
Investor Presentation May 2024 1
Slide 3: Safe Harbour
Safe Harbour This presentation has been prepared by and is the sole responsibility of Modi Naturals Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or ind
Slide 4: Q4 & FY24 Result Highlights
Q4 & FY24 Result Highlights 3
Slide 5: Management Commentary
Management Commentary Commenting on the performance, Mr. Akshay Modi, Joint Managing Director, of Modi Naturals, said, “The year has been challenging, with headwinds, such as a significant fall in oil prices in the bulk division, which led to inventory losses and higher than anticipated time taken t
Slide 6: Branded Division Performance
Branded Division Performance 40.4 41.3 42.1 169.1 158.7 Revenue • Consumer Division • FY24 revenue performance was moderate owing to a significant reduction in branded oil Q4FY23 Q3FY24 Q4FY24 FY23 FY24 prices • Demand has started picking up in the branded oil and food division • EBITDA has improved
Slide 7: Division Performance FY24
Division Performance FY24 Bulk Oil Division Ethanol Division Revenue EBITDA Revenue EBITDA Rs 188.6 cr Rs -9.3 cr Rs 42.1 cr Rs 3.5 cr • Revenue has been impacted by inventory loss due to a • Commercial production began at the end of Q3 FY24, and Q4 reduction in oil prices FY24 was a full quarter fo
Slide 8: Transforming Into A Multi Brand FMCG Company
Transforming Into A Multi Brand FMCG Company Segment Sales Branded Sales Branded INR CR Bulk Oil +17% 169 162 158 47% 53% 128 111 43 100% FY15 FY20 FY21 FY22 FY23 FY24 Strategy Going Ahead • Increase revenue from branded sales • Premium grocery segment • Products include Olive Oil, Canola • Increase
Slide 9: Consolidated Profit & Loss Account
Consolidated Profit & Loss Account Profit and Loss (in Rs. Crs) Q4FY24 Q4FY23 YoY Q3FY24 Q-o-Q FY24 FY23 Y-o-Y Revenue from Operations 119.8 110.4 8.5% 114.1 5.0% 399.8 418.0 -4.3% FY24 Performance Highlights Cost of Goods Sold 88.2 90.4 85.3 300.0 329.5 Gross Profit 31.6 20.1 57.6% 28.8 9.8% 99.8 8
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs) Mar-24 Mar-23 Equity & Liabilities (in Rs. Crs) Mar-24 Mar-23 Non - Current Assets 150.4 127.6 Total Equity 90.6 81.7 Property Plant & Equipments 148.9 27.0 Share Capital 13.3 12.7 CWIP 0.0 91.4 Other Equity 77.3 65.7 Other Intangible Assets 0.0 0.0 Mon
Slide 11: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs) FY24 FY23 Net Profit Before Tax -1.7 1.9 Adjustments for: Non-Cash Items / Other Investment or Financial Items 12.1 6.0 Operating profit before working capital changes 10.4 7.8 Changes in working capital -9.1 -6.6 Cash generated from/(used in) o
Slide 12: Standalone Profit & Loss Account
Standalone Profit & Loss Account Profit and Loss (in Rs. Crs) Q4FY24 Q4FY23 YoY Q3FY24 Q-o-Q FY24 FY23 Y-o-Y Revenue from Operations 84.7 110.4 -23.3% 97.5 -13.1% 357.8 418.0 -14.4% Cost of Goods Sold 59.2 90.4 76.3 265.4 329.5 Gross Profit 25.6 20.1 27.4% 21.2 20.5% 92.4 88.4 4.5% Gross Profit Marg
Slide 13: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs) Mar-24 Mar-23 Equity & Liabilities (in Rs. Crs) Mar-24 Mar-23 Non - Current Assets 54.7 47.9 Total Equity 93.0 81.9 Property Plant & Equipments 18.3 19.5 Share Capital 13.3 12.7 Other Intangible Assets 0.0 0.0 Other Equity 79.7 65.9 Money received Against
Slide 14: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs) FY24 FY23 Net Profit Before Tax 1.0 2.0 Adjustments for: Non-Cash Items / Other Investment or Financial Items 6.0 5.9 Operating profit before working capital changes 6.9 7.9 Changes in working capital 13.5 11.5 Cash generated from/(used in) operat
Slide 15: Our Business
Our Business
Slide 16: Business Verticals
Business Verticals Consumer Division Bulk Business Division Ethanol Division • 3rd Largest Premium Edible Oil Brand • Largest player in " Goodness of • One of the First Greenfield Grain • One of the Largest Rice Bran Oil olive oil“ based Ethanol Distilleries in Makers in India • 2nd Ranked Super-Pre
Slide 17: Modi Naturals - At A Glance
Modi Naturals - At A Glance 3rd Largest Super Premium Edible Oil Brand Largest in the Goodness of Olive Oil Space Position Unique Proposition Mfg. Units Distributors Direct Reach Modern Retail Only Player Making Multi-Source Olive Oil 3 450+ 50,000+ Retail Stores 3,000+ Outlets Premium Edible Oil IN
Slide 18: New Launches in the Food Business
New Launches in the Food Business Pasta Peanut Butter Pipo Brand Ready To Mix Beverages Under PIPO, we are extending We are extending our range of In Peanut Butter we are creating the portfolio and getting into New category of powdered ready to cook pasta and adding a vertical segmentation, wherein
Slide 19: Product Portfolio
Product Portfolio BRANDED BULK OIL Ready To Cook Ready To Eat Edible Oil Segment Segment Rice bran oil Rice bran de-oiled cakes Rice bran wax ETHANOL 18
Slide 20: Consumer Business
Consumer Business Modi Natural’s Presence Super Premium Olivana, Extra Virgin Olive Oil, Olive Pomace Edible Oil Oil, Miller Canola Oil (Canola Oil, Olive Oil) Premium Multisource Oil Oleev Active, Oleev Health, Oleev Smart (Rice Bran + Olive Oil, Rice Bran + Canola Oil) Commodity Based Edible Oil (
Slide 21: Flagship Product – Oleev Active
Flagship Product – Oleev Active Health Benefits Multisource Oil Immune Booster Multisource Healthy Oil with a unique blend Rich in oryzanol that boost immunity and of Olive Oil and Rice Bran Oil in 20:80 ratio protects against many lifestyle diseases Healthy Oil Low Absorption Polyphenols in Oleev A
Slide 22: Sneak Peak Of The Oleev Brand
Sneak Peak Of The Oleev Brand Oleev Extra Virgin Oil Oleev Extra Light Oil Oleev Pomace Oil Oleev Health Oleev Smart ADVANTAGES • Easily digested and helps • Low on SFA that ensures • Vitamin E in Oleev Pomace • Contains Omega 3, 6, 9 along • Rich in vitamins A, D, E & K, with weight loss a smooth b
Slide 23: Other Brands
Other Brands Olivana Wellness Canola Oil Rizolo Oleev Kitchen - Pasta Peanut Butter ADVANTAGES • Rich in protein • 26gm protein per 100gm serving • Natural Olive Oil with • Omega 3 & 6 helps to • Low absorption technology, • Source of fibre • Source of Calcium, Potassium Vitamin E & Pro vitamin A im
Slide 24: From Rice To Oil
From Rice To Oil Rice Bran Air Separator Broken Rice Animal Feeds Steam Cooking & Drying Solvent Solvent Storage Solvent Extraction Desolventizing Deoiled Bran Refined Rice Bran Oil Condenser Distillation Crude Rice Bran Oil Degumming Decoloration Dewaxing Deodorization Degrease Modi Naturals Produc
Slide 25: From Rice To Ethanol
From Rice To Ethanol Grain Storage Milling Cooking Liquefaction DDGS* Distillation Fermentation To Fuel Market Storage 24 *Dried Distillers Grains Used for Animal Feed
Slide 26: De-coding the Ethanol Business
De-coding the Ethanol Business Ethanol made from surplus and damaged food grain such as broken or • Received an approval for 210 KLD distillery surplus rice instead of molasses. Rice as a product is best understood due to • The investment over the next 2 years is expected to be ~Rs 250 cr, with the
Slide 27: Ethanol – a step Towards Growth
Ethanol – a step Towards “Growth…..!” Increasing Blending Rate has led to Increased Production Capacity Molasses Grain Total (Cr Litre) Growth Opportunity for Modi Naturals 2x 3.5x 3x 20% 760 740 1,500 426 10% 658 257 258 5% 423 166 2020 2022 2025e 2020 2022 2025e 2020 2022 2025e 2020 2022 2025e The
Slide 28: Commercialised the First Grain-Based Ethanol Distillery
Commercialised the First Grain-Based Ethanol Distillery Operating Capacity Capex Incurred Production Capacity Power Plant 210 KLD 130 KLD 5.5 MW Rs. 150 cr (Phase 1) Commenting on the commercialisation of the plant, Mr. Akshay Modi, Managing Director of Modi Naturals Ltd., said, “The commissioning o
Slide 29: Our Journey
Our Journey 1974-1985 1990-1991 1992-2002 1974: Incorporation of the Company 1990: Acquisition of Solvent plant (by sister 1992: Establishment of the edible oil 1985: Listed on BSE & Geographical concern Neha Oils Limited) in Pilibhit refinery in Pilibhit, U.P Greenfield solvent extraction plant 199
Slide 30: Manufacturing Units
Manufacturing Units Pilibhit (Uttar Pradesh) Hyderabad Sonipat (Haryana) Rice Bran Oil & Oil Packing Line Oil Packing Line Popcorn Unit Solvent Extraction - 800 TPD Packing Line - 25 TPD Packing Line - 5 TPD Refinery - 100 TPD Packing Line - 50 TPD Owned Leased and thus Asset Light Leased and thus A
Slide 31: Marketing Strategy
Marketing Strategy
Slide 32: The Modi Naturals Advantage
The Modi Naturals Advantage Pipo Branded Products – Oleev Branded Products – Healthy Food Category Indulgent Snack Category Premium Edible Oils - Oleev Oleev Kitchen - Peanut Butter Popcorn Only company in India refining olive oil & selling blended olive oil Gluten Free & High Protein Premium Grocer
Slide 33: Distribution Channels
Distribution Channels E-Commerce Platforms Modern Trade Channels Direct Reach 50,000+ outlets Modern Retail Outlets 3,000+ Retail Sales Sales Depot 20+ Distributors 450+ Canteen Source Department 32
Slide 34: Lara Dutta- Brand Ambassador for Oleev Brand
Lara Dutta- Brand Ambassador for Oleev Brand • Oleev has appointed former Miss Universe and actor, Lara Dutta as the brand ambassador for their range of olive and multisource cooking oils • In the latest brand campaign released in Dec 2021, campaign has featured Lara Dutta’s proactive approach to a
Slide 35: Strategy Building
Strategy Building Leverage Multi–Brand Distribution Digital First Approach to brand building In-house D2C Platform Fitness Icon As Brand Ambassador Focused Social Media & Content Strategy Strong & Competitive Portfolio 34
Slide 36: Key Focus Areas
Key Focus Areas Multi – Brand Approach Health With Taste New Product Development Ethanol to be the growth in Branded Segment driver 35
Slide 37: Management Team
Management Team
Slide 38: Visionaries Driving The Business
Visionaries Driving The Business Mr. Anil Modi- Chairperson & Managing Director Mr. Akshay Modi – Joint Managing Director • Mr. Anil Modi, aged 63, is one of the founding members of Modi Engineer from the University of Leeds, U.K and an alumnus of The Naturals Limited Doon School • He is on the Boar
Slide 39: Board Of Directors
Board Of Directors Aditi Gupta Alok Garg – Independent Sudhir Shankar Halwasiya Sulabh Singal-Independent Whole Time Director Non - Executive Director Independant Director Non - Executive Director • Mr. S. S. Halwasiya, aged 59, is a • Mr. Sulabh Singhal has over 21 • Ms. Aditi Modi is a finance • M
Slide 40: Historical Financials
Historical Financials
Slide 41: Standalone Performance Highlights
Standalone Performance Highlights Revenue from Operation EBITDA PAT Rs in Crs 14.9 10.5 474.3 12.7 9.4 442.7 418.0 388.3 357.8 295.6 7.4 4.6 4.9 5.3 5.6 1.0 1.2 0.9 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 EBITDA % PAT % 3.1% 2.4% 2.9% 2.0% 1.9% 1.6%
Slide 42: Financial Strength
Financial Strength Net Net Worth Worth Cash CashFlow Flow From Operations From Operations Net Net Block Block 25.8 Rs in Crs 19.4 20.4 93.0 19.6 19.3 19.2 19.5 81.9 12.3 18.3 77.2 67.9 52.7 57.4 4.0 -5.3 -8.2 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 R
Slide 43: Standalone Profit And Loss Statement
Standalone Profit And Loss Statement Profit and Loss (in Rs. Crs) FY24 FY23 FY22 FY21 FY20 FY19 Revenue from Operations 357.8 418.0 474.3 442.7 388.3 295.6 Cost of Goods Solds 265.4 329.5 373.9 360.8 313.2 232.2 Gross Profit 92.4 88.4 100.4 81.9 75.2 63.4 Gross Profit Margin 25.8% 21.2% 21.2% 18.5%
Slide 44: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs) Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Equity & Liabilities (in Rs. Crs) Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Non - Current Assets 54.7 47.9 33.1 22.1 24 26.9 Total Equity 93.0 81.9 77.2 67.9 57.4 52.7 Share Capital 13.3 12.7 12.7 12.7 12.7 12.7 P
Slide 45: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs) Mar-24 Mar-23 FY22 FY21 FY20 FY19 Net Profit Before Tax 1.0 2.0 13.0 14.0 3.6 2.5 Adjustments for: Non-Cash Items / Other Investment or Financial Items 6.0 5.9 4.3 1.7 7.1 2.4 Operating profit before working capital changes 6.9 7.9 17.3 15.7 10.7
Slide 46: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Modi Naturals Limited Strategic Growth Advisors Pvt. Ltd. CIN - L15142DL1974PLC007349 CIN - U74140MH2010PTC204285 Mr. Ankit Agarwal Mr. Mandar Chavan / Mr. Rahul Agarwal mandar.chavan@sgapl.net / rahul.agarwal@sgapl.net